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WuXi AppTec Co., Ltd. Class H ( (HK:2359) ) has provided an update.
WuXi AppTec Co., Ltd. has entered into a sale and purchase agreement with Hillhouse Investment Management to sell its subsidiaries, WuXi Clinical Development Services and WuXi MedKey Med-Tech Development, for cash consideration. This transaction aligns with WuXi AppTec’s strategy to focus on its core CRDMO business, providing financial support to enhance global capabilities. The transaction, which does not constitute a major or connected transaction under Hong Kong and Shanghai Stock Exchange rules, is expected to accelerate the company’s development in serving its customers more effectively.
The most recent analyst rating on (HK:2359) stock is a Buy with a HK$106.00 price target. To see the full list of analyst forecasts on WuXi AppTec Co., Ltd. Class H stock, see the HK:2359 Stock Forecast page.
More about WuXi AppTec Co., Ltd. Class H
WuXi AppTec Co., Ltd. operates in the healthcare industry, focusing on a Contract Research, Development, and Manufacturing Organization (CRDMO) business model. The company emphasizes drug discovery, laboratory testing, process development, and manufacturing services to serve global customers and benefit patients worldwide.
Average Trading Volume: 8,623,607
Technical Sentiment Signal: Buy
Current Market Cap: HK$329.4B
See more data about 2359 stock on TipRanks’ Stock Analysis page.